The PX-50 index lost yesterday, losing 1.72% of its value to 450.2 points. The market decline was led by weakness in Cesky Telecom shares; the Cabinet announced it had canceled the privatization of the company due to unsatisfactory tender bidding. Other names traded sideways with no particular interest. Total volume yesterday reached USD 35.9 mil. Today, corporate earnings are expected to lead the market as investors await the Q1 earnings release of Cesky Telecom, Komercni, CEZ, and Unipetrol, all slated for today. Otherwise, the sentiment on European markets is slightly negative.
Please note that the Prague Stock Exchange is closed on Wednesday, May 1, a public holiday in the Czech Republic.
Milan Procházka